Mitek Systems Correlations

MITK Stock

USD 14.85 0.10 0.68%

The current 90-days correlation between Mitek Systems and eGain is 0.42 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mitek Systems moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mitek Systems moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Mitek Systems Correlation With Market

Very weak diversification

The correlation between Mitek Systems and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mitek Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Mitek Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mitek Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For more information on how to buy Mitek Stock please use our How to buy in Mitek Stock guide.

Moving together with Mitek Stock

0.87	DSG	Dillistone Group PLC	Pair Corr
0.67	60Z	UNIFIEDPOST GRP SANV	Pair Corr

Moving against Mitek Stock

0.92	VS	Versus Systems	Pair Corr
0.84	WK	Workiva	Pair Corr
0.83	BL	Blackline Tech Boost	Pair Corr
0.81	U	Unity Software Buyout Trend	Pair Corr
0.79	2TY	PagerDuty	Pair Corr
0.78	DMRC	Digimarc Earnings Call Today	Pair Corr
0.77	PD	Pagerduty Tech Boost	Pair Corr
0.77	DOMO	Domo Inc Earnings Call Tomorrow	Pair Corr
0.72	35U	PAR TECHNOLOGY DL	Pair Corr
0.72	VERI	Veritone	Pair Corr
0.71	DT	Dynatrace Holdings LLC	Pair Corr
0.71	DOCU	DocuSign	Pair Corr
0.67	RM	RM Plc	Pair Corr
0.66	MQ	Marqeta Earnings Call Today	Pair Corr
0.66	1Q5	Dropbox	Pair Corr
0.6	QH	Quhuo	Pair Corr
0.59	9NY	BYTES TECHGRP LS	Pair Corr
0.56	DV	DoubleVerify Holdings Earnings Call Today	Pair Corr
0.55	ZD	Ziff Davis Trending	Pair Corr
0.52	MTLO	Martello Technologies	Pair Corr
0.34	VEEA	Veea Inc	Pair Corr
0.33	BGE	Bridge Saas	Pair Corr
0.88	3L7A	Qualys Inc	Pair Corr
0.88	61I	RESEARCH SOLUTIONS	Pair Corr
0.87	BRF	IRESS LTD	Pair Corr
0.83	6NCA	NCINO INC DL	Pair Corr
0.83	LY0	Lyft Inc	Pair Corr
0.76	VERX	Vertex	Pair Corr
0.76	VRAR	Glimpse Group Symbol Change	Pair Corr
0.75	MSFT	Microsoft Corp CDR	Pair Corr

Related Correlations Analysis

	EGAN	PUBM	MTLS	LAW	RMNI	CMRC	IMXI	GRRR	CRNC	OSPN
EGAN		0.49	0.57	0.66	0.5	0.53	-0.47	0.35	0.75	0.76	EGAN
PUBM	0.49		0.58	0.82	0.91	0.92	-0.65	0.29	0.68	0.81	PUBM
MTLS	0.57	0.58		0.55	0.44	0.71	-0.74	0.53	0.62	0.63	MTLS
LAW	0.66	0.82	0.55		0.8	0.86	-0.72	0.37	0.86	0.89	LAW
RMNI	0.5	0.91	0.44	0.8		0.85	-0.46	0.32	0.71	0.79	RMNI
CMRC	0.53	0.92	0.71	0.86	0.85		-0.79	0.31	0.73	0.86	CMRC
IMXI	-0.47	-0.65	-0.74	-0.72	-0.46	-0.79		-0.3	-0.59	-0.64	IMXI
GRRR	0.35	0.29	0.53	0.37	0.32	0.31	-0.3		0.64	0.27	GRRR
CRNC	0.75	0.68	0.62	0.86	0.71	0.73	-0.59	0.64		0.8	CRNC
OSPN	0.76	0.81	0.63	0.89	0.79	0.86	-0.64	0.27	0.8		OSPN
	EGAN	PUBM	MTLS	LAW	RMNI	CMRC	IMXI	GRRR	CRNC	OSPN

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CMRC	+ 0.92	PUBM
RMNI	+ 0.91	PUBM
OSPN	+ 0.89	LAW
CMRC	+ 0.86	LAW
CRNC	+ 0.86	LAW
OSPN	+ 0.86	CMRC

High negative correlations

IMXI	- 0.79	CMRC
IMXI	- 0.74	MTLS
IMXI	- 0.72	LAW
IMXI	- 0.65	PUBM
OSPN	- 0.64	IMXI
CRNC	- 0.59	IMXI

Risk-Adjusted Indicators

There is a big difference between Mitek Stock performing well and Mitek Systems Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Mitek Systems' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EGAN	2.19	(0.28)	0.00	(0.10)	0.00	0.00	3.87	(4.14)	14.43
PUBM	2.12	(0.11)	0.00	(0.12)	0.00	0.00	4.42	(4.20)	13.58
MTLS	2.08	(0.26)	0.00	(0.16)	0.00	0.00	6.48	(4.42)	17.57
LAW	3.81	(0.80)	0.00	1.18	0.00	0.00	8.31	(12.92)	28.65
RMNI	1.97	(0.07)	(0.02)	(0.01)	2.01	(2.70)	5.07	(3.53)	26.17
CMRC	2.40	(0.66)	0.00	(0.29)	0.00	0.00	4.96	(9.12)	22.54
IMXI	0.19	0.06	0.13	(1.21)	0.00	(0.27)	0.40	(0.19)	1.35
GRRR	4.07	(0.15)	0.00	(0.02)	0.00	0.00	9.20	(7.78)	24.43
CRNC	3.36	(0.44)	0.00	(0.11)	0.00	0.00	8.14	(5.48)	38.04
OSPN	1.83	(0.27)	0.00	(0.15)	0.00	0.00	3.63	(5.10)	10.77

Mitek Systems Corporate Management

Jason JD	Chief Officer	Profile
Scott Marcus	G Counsel	Profile
David Lyle	Chief Officer	Profile
Michael Diamond	Chief Revenue Officer	Profile
Stephen Ritter	Chief Officer	Profile

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